L Brands Sees Unusually High Options Volume (LB)
L Brands, Inc. (NYSE:LB) was the recipient of unusually large options trading on Wednesday. Investors bought 18,485 call options on the company. This represents an increase of approximately 663% compared to the average volume of 2,424 call options.
Shares of L Brands (NYSE:LB) opened at 36.20 on Monday. The firm’s 50-day moving average price is $44.42 and its 200-day moving average price is $49.87. L Brands has a one year low of $35.00 and a one year high of $79.67. The stock has a market capitalization of $10.38 billion, a P/E ratio of 10.63 and a beta of 0.62.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.04%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $0.70 earnings per share. L Brands’s revenue was down 4.7% on a year-over-year basis. Equities research analysts anticipate that L Brands will post $3.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a yield of 6.63%. L Brands’s dividend payout ratio is currently 70.38%.
A number of brokerages recently commented on LB. BMO Capital Markets set a $44.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Tuesday, August 8th. KeyCorp set a $32.00 price objective on L Brands and gave the stock a “sell” rating in a research report on Friday. Jefferies Group LLC set a $32.00 target price on L Brands and gave the stock a “sell” rating in a research note on Thursday. Buckingham Research set a $43.00 target price on L Brands and gave the stock a “buy” rating in a research note on Friday. Finally, MKM Partners reissued a “buy” rating and set a $56.00 target price on shares of L Brands in a research note on Sunday. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.04.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of L Brands by 1.3% in the second quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock worth $1,037,783,000 after buying an additional 256,464 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock worth $885,383,000 after buying an additional 2,600,605 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of L Brands by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock worth $885,716,000 after buying an additional 495,987 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock worth $683,636,000 after buying an additional 6,745,624 shares in the last quarter. Finally, FMR LLC boosted its position in shares of L Brands by 2.8% in the second quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock worth $614,558,000 after buying an additional 305,365 shares in the last quarter. 75.20% of the stock is currently owned by hedge funds and other institutional investors.
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About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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